AcquisitionsMay 13, 2026, 04:28 PM
Allegiant Completes Sun Country Acquisition; Adds 3 Directors
AI Summary
Allegiant Travel Company completed its acquisition of Sun Country Airlines on May 13, 2026, making Sun Country a wholly owned subsidiary. The deal, valued at $4.10 cash and 0.1557 Allegiant shares per Sun Country share, creates a leading leisure-focused U.S. airline with a combined fleet of 195 aircraft serving nearly 175 cities. Allegiant expects to realize approximately $140 million in annual synergies within three years and anticipates the transaction to be accretive to EPS in the first full year post-closing. As part of the integration, Allegiant expanded its board to eleven directors, adding three former Sun Country directors, including Jude Bricker, who will also provide advisory services.
Key Highlights
- Allegiant completed the acquisition of Sun Country Airlines on May 13, 2026.
- Each Sun Country share converted into $4.10 cash and 0.1557 Allegiant shares.
- Allegiant's board expanded from eight to eleven directors, adding three from Sun Country.
- Combined company will serve approximately 22 million annual customers across nearly 175 cities with 195 aircraft.
- Allegiant expects $140 million in annual synergies within three years post-closing.
- Transaction is expected to be accretive to earnings per share in the first full year post-closing.
- Jude Bricker (former Sun Country CEO) will provide advisory services for $26,650 per month.